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© Thomson Reuters 2019.Fast Retailing likely hit by S Korea boycott; succession plans in focus, say analysts
By Ritsuko Ando TOKYO©2024 GPlusMedia Inc.
12 Comments
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Hachidori
South Koreans are hurting themselves since Uniqlo will reduce employees hours even fire some in order to deal with the conboycott.
oh, it means also less consumers and income tax in South Korean coffers.
Unqlo will cut their losses and restructure for next year.
Wallace Fred
Deafening silence from the usual crowd. Must admit, 3/3 is at the moment. When I called out this inevitability, lots of denialism took place. Well, voilà!!
alwaysspeakingwisdom
Fast Retailing likely hit by S Korea boycott
but
Analysts on average expect operating profit of 258.6 billion yen for the year ended August, up 9.5% from a year prior, Thomson Reuters data showed. They see a 14% rise in the current year,
Ok, so how important is South Korea if both profits and sales are both up?
Samit Basu
@Hachidori
Korean Uniqlo employees are supporting the boycott, since they can just move to Korean fast fashion brand retailers with Uniqlo experience.
Anyhow, Uniqlo and DHC are two Japanese brands marked by boycott activists for elimination from Korean market. DHC is all but gone, and Uniqlo is following DHC fast.
oldman_13
Agree Hillclimber.
Japan will always come out on top in the end.
Hachidori
Samit basu:
According to you, the S.Koreans employees are happy to lose their jobs even with the high employment rate and the risk of not getting another in other to hurt Japan?
Isn’t this akin to drinking a poison and yet expecting another person to die?
The delusion must be real on the peninsula.
Madden
Who cares, close off all the stores if they're so upset about it, revenue in new countries will more than make up for it. I assume Korea is like other countries where Uniqlo is considered cool and reasonably priced and therefore popular, so all of the customers will soon realize the error of their ways as now their only option is to import the products at a premium price. Be careful what you wish for!
indier99
@Madden
You obviously don't have work experience in international sales or marketing. Nothing is given in that part of the world. But as you have said: who cares? :)
Alex80
Sorry, but this news only shows that Japanese businesses need to focus less on a politically sensitive market like South Korea. They are doing the right thing trying to expand their business in more friendly or politically neutral places. If it isn't for one reason, the Koreans will find another one for boycotting Japan. Their sentiment is too volatile. This year Uniqlo opened its first store in Italy. I wonder if it will be successful, since here there are brands like Zara that are very strong and compete in the same segment of market. But many anime and manga fans are already happy to see merchandising related to their favourite series that you couldn't find here easily.
extanker
Cue the usual 'Japanese business is doomed without South Korea!'
And yet:
They seem to be doing just fine without them.
MkoreaMwafrika
As a Kenyan born now American, I love observing the peculiarities of the big three East Asians.
The gold standard for those of us who observe Asia as outsiders, are clearly, the calm, meticulous, high-standard Japanese; synonymous with high-quality in all that they do. From Uni Qlo to top notch precision instruments; It's Japan that sets the standards for Asia and even the world at large.
Then, as in this example you have the emotional and bitter Koreans. A typical case of Koreans penchant of cutting their nose to spite their collective faces.
Korean youth are suffering from lack of jobs and penury. Good luck, Hanguk!
And, then there's China. Oh, boy! I think Japanese civilization in Manchukuo didn't go far enough.